Ukrainian corn prices under pressure from the harvest campaign

UkrAgroConsult

Liquidity in the Ukrainian corn market continues to improve as harvesting accelerates, but supply is beginning to outpace demand. As a result, domestic EXW prices fell to UAH 5,500/mt (USD 122.41/t), down UAH 1,000/mt during the week October 2–9.

As of October 5, 1.6 M mt of corn had been harvested, with an average yield of 5.5 mt/ha, above the multi-year average of 5.19 mt/ha. However, only 6.5% of the projected area had been harvested, making it too early to draw firm conclusions about the season’s overall yield potential.

Rainfall forecast for the second ten-day period of October could slow harvest progress and increase grain moisture levels, raising drying and post-harvest handling costs. These factors could limit further price declines in the near term. Nevertheless, as harvesting progresses and additional volumes enter the market, growing supply is likely to remain the primary bearish driver unless demand strengthens sufficiently to absorb the increased availability.

Source: UkrAgroConsult database AgriSupp

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Tags: Ukraine, corn, prices